Improving the business environment and revitalizing manufacturing sectors remains a priority of state policy in our country. President Shavkat Mirziyoyev reviewed an important presentation aimed at ensuring the stable operation of industrial enterprises and eliminating obstacles hindering entrepreneurs. Zamin.uz presents the details of these reforms that will usher in a new era in the economy.
Restoring industrial capacity: 65 trillion soums in additional opportunities
According to analyses, some enterprises in sectors such as textiles, construction materials, food, and electrical engineering are not fully utilizing their potential. Issues such as disruptions in raw material supply chains, shortages of working capital, and outdated equipment are negatively impacting production volumes.
In this regard, a new system has been introduced by the President:
Republican Headquarters: A special headquarters consisting of relevant agencies and banks has been established to visit sites and resolve problems within two weeks.
Financial support: Necessary loans for restarting production will be allocated, and infrastructure issues will be resolved on the spot.
Efficiency: Through these measures, it is planned to produce additional 65.6 trillion soums worth of products and increase export potential.
Control over bank assets and investment projects
Currently, commercial banks hold 70 large properties valued at over 10 billion soums. A separate mechanism will be developed to transfer these objects to entrepreneurs, attract investors, and create new jobs. Additionally, the actual status of 17,000 projects launched between 2021 and 2025 will be examined to ensure they are fully reflected in reports.
Administrative relief for entrepreneurs: Signboards are not advertisements!
A number of bureaucratic barriers negatively affecting the business environment have been revised:
Signboards: From now on, the name and type of activity of a business entity placed on a building will not be considered an advertisement, and obtaining a separate permit for this will not be required.
Transport: The procedure for legal entities to place trademarks on their vehicles will be simplified.
Tax and expertise: The refund of a portion of VAT for catering enterprises will be simplified, and environmental expertise and compensation payments will be eased.
Digitalization and payments: Conveniences for the population
Revolutionary changes are expected in the cashless payment system:
Commission-free transfers: The opportunity for individuals to make free money transfers between their cards will be expanded.
Instant cashback: A system for instant cashback on purchases of alcohol, tobacco, and fuel will be created.
Security: The cost of SMS notifications in the anti-fraud system will be reviewed, and alternative solutions such as mobile applications and biometric identification will be introduced.
Tax administration and foreign trade
It has been established that penalties calculated for tax arrears shall not exceed the principal debt. In foreign economic activity, redundant documents will be reduced, and the facilities of 'Uzexpocentre' will be widely used to promote national products in international markets.
Dear readers, how do you think the abolition of signboard fees will affect the development of small businesses? Leave your thoughts in the comments!
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